French division of soft drinks powerhouse Coca-Cola has announced the acquisition of France’ still drinks producer Tropico, along with its namesake brand.
According to company’s statement, this is the first time that Coca-Cola acquires a French company. Tropico soft drinks are sold in most retail chains in France and Belgium generating a revenue of around $34 million last year.
The acquisition is said to be part of a diversification strategy with the goal to offer a wider choice of drinks to consumers and to grow in the fruit drinks market.
Commenting on the deal, Coca-Cola France president François Gay-Bellile said: “We are delighted to be able to rely on the Tropico brand to accelerate our development in the very dynamic segment of flat fruit drinks. We rely on our experience in other countries to quickly bring innovation to this category and energise it. This acquisition is a step further in this direction, allowing us to better meet the expectations of French consumers.”
Source: Coca-Cola / Foodbev